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| Wednesday, 4 August 2004 |
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EDB Chennai fair to strengthen business ties under FTA by Irangika Range The Sri Lanka Export Development Board (EDB) in collaboration with the Deputy High Commission for Sri Lanka in Chennai with key local exporters will participate in the "Second Chennai International Trade Fair (CITF)" to be held at the Chennai Trade Centre, Chennai from October 9 to 17. An official of the EDB said the major international trade fair in Chennai will provide good opportunities for local manufacturers and service providers in the country. " The purpose of the local participation is the fair is to encourage local companies by harnessing more opportunities on the Indo Sri Lanka Free Trade Agreement (FTA). This would help to explore and further strengthen business opportunities under the FTA agreement," she said. She said the EDB also set up a Trade Centre in Chennai to promote local products and the service in India and retail sales made significant growth within three months. "This fair would give a good reputation to local products and service as well as a good opportunity to increase sales in the Trade Centre," she said. "It is important to participate in the exhibition because India is the largest trade market for Sri Lanka. Local participants can gain more benefits to strengthen business links, to build new trade links in the Indian market, identify new technology and obtain first hand information about market trends," she said. She said the total exports of local products and services to India was US$ 241.14 million in 2003 while it was US$ 168.72 million in 2002. Sri Lanka exports to India mainly vegetable products, animal and vegetable fats, mineral products, plastic and rubber articles, pulp of wood, textile and textile articles, ceramic are and glassware, base metal and articles of base metal, machinery and mechanical appliances, optical and photographic accessories while Sri Lanka imports from India live animals and products, vegetable products, foodstuffs, mineral products, chemicals and allied industries, plastic and rubber articles. The total imports were US$ 1076.17 million in 2003 while it was US$ 834.61 million in 2002. "The CITF fair organised by the Tamil Nadu Trade Promotion Organisation has granted a 25 percent discount for stall rental to the EDB. EDB will provide a 100 percent free cost facility for stall rental to SMEs companies while it will provide 50 percent free cost facility for stall rental to large scale companies. Six local companies including three from SMEs and three from large scale companies would be expected to exhibit tea, spice and essential oils, light engineering products, electrical components, processed food, footwear and travel goods, coconut and coconut fibre products, apparel and clothing accessories, rubber products, tyres and tubes, toys, gifts and handicrafts, ceramic and porcelain products," she said. "More than 300,000 business people and consumers participated in the fair last year. Thousands of visitors from India and participants from a number of countries are expected to attend this year's fair," she said. |
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